Economy - Reports
Govt targets major reduction in fossil fuel imports through hydrogen innovation As on : 19-Sep-24  14:38

In a bid to revolutionize India's energy landscape, Road Transport and Highways Minister Nitin Gadkari announced ambitious plans to significantly cut fossil fuel imports from Rs 22 lakh crore to around Rs 4 lakh crore in the coming years. Speaking at an event in Delhi, Gadkari highlighted the government's focus on hydrogen as a key alternative fuel source.

Central to this initiative is the project involving Mirai, a hydrogen-powered car, which utilizes hydrogen derived from waste materials. This aligns with the government's broader strategy to harness biotechnology for more affordable hydrogen production. The minister emphasized that achieving a production cost of one dollar per kilogram of hydrogen is a crucial step toward making India an energy-exporting powerhouse.

Further illustrating the transformative vision, Gadkari underscored the role of agriculture in national development. He proposed enhancing the role of farmers, or Kisans, beyond traditional food production to become significant contributors in energy sectors, dubbing them 'Urja data,' 'Indhan data,' and 'Hydrogen data.' This involves initiatives like generating bioethanol from agricultural stubble.

Additionally, Gadkari called on private entities to invest in rural and tribal areas, addressing the concerning economic disparities exacerbated by concentrated development in metropolitan regions.

Gadkari reiterated that the government is working to make India the fifth largest economy in the world and achieve the 5 trillion economy mark.

Powered by Capital Market - Live News